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Non-Tech : Canadian vs. US Banks--Better PE and rising C$
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To: Zardoz who wrote (77)5/26/1997 11:14:00 AM
From: Zardoz   of 230
 
Is there a connection between France going down, and Canada going up?
I think so. But, you know this sounds good to:

Canadian Imperial Bank of Commerce - In the News

Globe says US banking reforms pressure Canada

Canadian Imperial Bank of
Commerce CM
Shares issued 205960897 1997-05-23 close $33.8
Monday May 26 1997 In the News

See Bank of Montreal (BMO) In the News
The Globe and Mail reports in its Monday edition that Canada
could soon face a renewed foreign assault on its domestic
financial services market as the United States moves to
eliminate the last vestiges of strict 1930s-era banking rules
there. Reporter Barry McKenna says that under NAFTA, a review
of access to commercial banking continent-wide is
automatically triggered when the US allows foreign banks to
expand their branch networks in the US market. Last week, US
treasury secretary Robert Rubin unveiled a sweeping overhaul
of US banking laws that could clear the way for head-to-head
competition between banks, insurers and securities dealers.
The changes require Congressional approval. The proposed
amendments to the US Glass-Steagall legislation come just
days before another US law goes into force, eliminating most
interstate banking curbs and allowing nation-wide banking for
the first time. Mr Rubin's reforms are welcomed by Canadian
banks, who want to enter the US.
(c) Copyright 1997 Canjex Publishing Ltd.

So what do you think, Canadian BANK MERGERS must be on the horizon?
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